UM system awarded $100,000 grant
The UM system is one of the three recipients of the “Kauffman Commercialization Leaders,” award, given out by the Ewing Marion Kauffman Foundation. Recipients will receive $100,000 to help expand their programs.
The UM system was recognized for its Student Ownership Rights in Intellectual Property initiative, according to a news release. UM system students have ownership of their intellectual property, they can own any copyrightable or patentable works that were made during their time as a student and are not required to assign their ownership to the UM system.
Carnegie Mellon University also received one of the three awards for their Project Olympus Commercialization Fellows Program designed to make a group of students able to incorporate their skills in the marketplace. University of North Carolina at Chapel Hill also received the award for their Innovate@Carolina Campaign to help create “university-born ideas” to help society, according to the news release.
“These universities exhibit a strong commitment to bringing the innovations developed on campuses into the commercial marketplace, which benefits society and ultimately enhances economic growth,” Kauffman Foundation President and CEO Carl J. Schramm said in a news release. “We are very please to recognize and support their efforts.”
According to the Kauffman Foundation’s website, Kauffman.org, their organization strives to find solutions to aid the marketplace and in turn, push for economic growth.
“There are a few other universities that allow undergraduate students ownership of their intellectual property,” said Lesa Mitchell, vice president of Advancing Innovation for the Kauffman Foundation. “What was unique about the (university) of Missouri was that they went about changing policy at the level of the board, not simply changing practice.”
Mitchell also said with the current economic crisis, the UM system’s policy was something that could be made into a visible statement in support of innovation and entrepreneurship.